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1. What is Marketing?

Let’s examine these Four P’s using specific examples.

 

Product in Action

Think about the latest smartphone on the market. Its features like camera quality, battery life, and storage are designed based on what you, the user, are looking for. If you're into photography, companies might market phones with advanced cameras to catch your interest.

 

Price in Play

Consider the strategy behind pricing a video game. If a game is priced too high, teens may not be able to afford it. If it’s too low, the perceived value might be questioned. Game producers might price new games slightly higher, knowing dedicated fans will buy them for the novelty but might reduce prices later to attract more budget-conscious gamers.

Place and Accessibility

A makeup brand might choose to sell its products in a popular mall instead of a specialty store to make it more accessible to a broad audience. They want their products where teens are most likely to shop.

 

Promotion Techniques

Promotion can be seen in actions like a famous soda brand creating eye-catching ads featuring popular musicians or extreme athletes, tapping into the interests and aspirations of the teen demographic.

 

The Four P's of Marketing are more than just concepts; they're the strategic steps a business takes to ensure its product or service finds its way into the hands of customers who will appreciate and buy them. They guide how businesses speak to and resonate with audiences, including teens, shaping the consumer landscape one purchase at a time.

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